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Wednesday, November 17, 2021 11:39:12 PM
Item 1.01. Entry into a Material Definitive Agreement.
Securities Purchase Agreement
From November 10, 2021 through November 17, 2021, Quantum Computing Inc. (the “Company”), conducted a private placement offering (the “Private Placement”) pursuant to securities purchase agreements (the “Purchase Agreements”) with 7 accredited investors (the “Investors”), whereby, the Investors had agreed to purchase from the Company an aggregate of 1,545,459 shares of the Company’s newly created Series A Convertible Preferred Stock, par value $0.0001 per share (the “Series A Preferred Stock”) and warrants to purchase 1,545,459 shares of the Company’s common stock for an aggregate purchase price of $8,500,000. The Private Placement was completed and closed to further investment on November 17, 2021.
The number of shares of Common Stock issuable upon conversion of any share of Series A Preferred Stock pursuant shall be determined by dividing (x) the Conversion Amount of such share of Series A Preferred Stock by (y) the Conversion Price (the “Conversion Rate”). Conversion Amount means, with respect to each share of Series A Preferred Stock, as of the applicable date of determination, the sum of (1) the Stated Value thereof plus (2) any accrued dividends. "Conversion Price” means, with respect to each share of Series A Preferred Stock, as of any Optional Conversion Date, Mandatory Conversion Date or other date of determination, $5.50, subject to adjustment for stock splits, dividends, recapitalizations and similar corporate events.
The Warrants are two year warrants to purchase shares of the Company’s Common Stock at an exercise price of $7.00 per share, subject to adjustment, and are exercisable at any time on or after the date that is six (6) months following the issuance date. The Warrants provide for cashless exercise in the event the underlying shares of common stock are not registered.
The Company intends to use the proceeds from the financing for working capital purposes.
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- Quantum Computing Inc. Announces Receipt of Nasdaq Non-Compliance Notice • PR Newswire (US) • 06/27/2024 08:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/11/2024 09:26:37 PM
- Quantum Computing Inc. Reports First Quarter 2024 Financial Results • PR Newswire (US) • 06/11/2024 08:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/17/2024 08:00:31 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/15/2024 08:41:29 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/14/2024 08:00:11 PM
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- Form 8-K - Current report • Edgar (US Regulatory) • 01/31/2024 09:30:29 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/29/2023 09:00:35 PM
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